The monetary transmission mechanism in the euro area: evidence from VAR analysis

By G. Peersman, Frank Smets. 2003

172 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/99bb3cd669b6b493e0df72974c3a6d448b8e667f

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Citations in the corpus

Shocks, Structures or Monetary Policies? The Euro Area and US After 2001 (2008, unknown): “…in our EA model the policy shock is more than twice as powerful on real activity as in our US specification, and it is twice as strong as in the EA VAR documented in Peersman and Smets (2003).12 This might be viewed as pointing to a conflict of results between structural and time-series analysis.”
What Caused the Early Millennium Slowdown? Evidence Based on Vector Autoregressions (2005, background): “(7) For example, Christiano et al (1998) and Peersman and Smets (2001). 13”
Are the Effects of Monetary Policy in the Euro Area Greater in Recessions than in Booms? (2001, methodology): “4 In Peersman and Smets (2000b), we perform a more disaggregated industry analysis which allows us to potentially distinguish between the various hypotheses.”
Responses to Monetary Policy Shocks in the East and the West of Europe: A Comparison (2008, unknown): “Interestingly, the VAR results for individual countries in Mojon and Peersman (2001) and for the euro area in Peersman and Smets (2001) show a similar phenomenon: output responses to monetary policy shock die out in all countries except France, but in the estimation on the euro area data they are…”
Structural Vector Autoregressions: Theory of Identification and Algorithms for Inference (2010, unknown): “To illustrate how to apply our theory to this type of nonlinear restrictions, we follow Peersman and Smets (2003) and consider a four-variable SVAR with three contemporaneous and three long-run restrictions on impulse responses.”
Can Monetary Policy Affect the Real Economy (2002, unknown): “15 The VAR estimates are taken from Peersman and Smets (2001). Their Graph 1 indicates that the upper 90 % confidence interval on prices is at or above zero (compared with the base case), i.”
Asset Price Booms and Monetary Policy (2004, unknown): “Somewhat surprisingly, the collapse in asset prices following the boom is not 5 See, for example, Peersman and Smets (2003) who investigate the response of equity and real estate prices to a monetary policy shock.”
Do Euro Area Countries Respond Asymmetrically to the Common Monetary Policy (2014, unknown): “…transmission mechanism in the EA has been already investigated in the literature, both at the aggregate level (Monticelli and Tristani, 1999; Peersman and Smets, 2003; Cecioni and Neri, 2011) and among countries (Mojon and Peersman, 2003; Peersman, 2004) by means of Structural VAR (SVAR)…”
Macroeconomic Effects of Unconventional Monetary Policy in the Euro Area (2011, unknown): “More 1For instance Bernanke and Blinder (1992) and Christiano, Eichenbaum and Evans (1999) for the United States or Peersman and Smets (2003) for the Euro area 2A number of studies have examined the e ects of a set of liquidity measures on money market interest rate spreads in the aftermath of the…”
The effectiveness of unconventional monetary policy at the zero lower bound : a cross-country analysis (2014, background): “Examples include Bernanke and Blinder (1992), Strongin (1995), Bernanke and Mihov (1998), and Christiano, Eichenbaum, and Evans (1999) for the United States or Peersman and Smets (2003) for the euro area.”
The Output Composition Puzzle: A Difference in the Monetary Transmission Mechanism in the Euro Area and U.S. (2003, unknown): “All the specifications that we analyze also include the time trend and other exogenous variables that Peersman and Smets (2003) advocate.”